Extension of Interest Waiver on State Unemployment Loans.
This act aims to extend the period during which states are not required to pay interest on federal loans taken to fund unemployment benefits. This provides states with more time to repay these loans without additional costs, potentially helping to stabilize their budgets and avoid tax increases or cuts in other public services.
Key points
The waiver of interest on state unemployment loans is extended until September 30, 2022.
This change is effective retroactively, as if included in the Families First Coronavirus Response Act.
Expired
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